We asked commercial real estate industry leaders for their thoughts on NAIOP New Jersey CEO Michael McGuinness, who is retiring next month after more than 25 years in the role.
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You can’t make it up: Newark’s thinly veiled rent control law is reckless (and illegal)
Newark Mayor Ras Baraka must have snuck into our recent seminar — The Newark Redevelopment Update — and heard the buzz about this proposed resolution because it appears he ran out and got it enacted into law immediately. What is so silly about his maneuver is the fact that it is clearly illegal and will be more than likely overturned rather quickly. So why pass such a resolution in the first place?
AT&T is leaving its iconic campus in Bedminster. Local officials say they’re more than ready.
Bedminster Township has spent eight years preparing for the possibility that AT&T would vacate its iconic 1.1 million-square-foot campus near the junction of interstates 78 and 287, culminating in in a recent vote to rezone the 194-acre property. Now that the move is imminent, local officials are confident that their efforts will pay off.
At the ready
The issue of so-called stranded assets is a recurring theme in New Jersey commercial real estate, regrettably so, one that often finds public officials on their heels when they’re left with a vacant, obsolete office park or mall. That is seemingly not the case in Bedminster, where local leaders spent nearly a decade preparing for the possibility that AT&T, its largest taxpayer and employer, would vacate its iconic, 1.1 million-square-foot campus in the township.
